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SEC and CFTC Staff Issue Joint Statement on Digital Asset Commodity Transactions

On September 2, the staff of the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) issued a Joint Staff Statement regarding the listing of leveraged, margined, or financed spot...more

CFTC Issues New Advisory on FBOT Registration Opening the Path for Offshore Cryptocurrency Firms

In a significant move aimed at enhancing regulatory clarity and fostering global market access, particularly for offshore cryptocurrency firms, the U.S. Commodity Futures Trading Commission (CFTC) issued a new advisory on the...more

Illinois Passes New Laws Designed to Safeguard Consumers Against Cryptocurrency Fraud

Last week, Illinois Governor JB Pritzker signed two landmark pieces of legislation aimed at protecting consumers from cryptocurrency scams and fraud. The Digital Assets and Consumer Protection Act (SB1797) and the Digital...more

GENIUS Act Under the Microscope: Strengths, Weaknesses, and Regulatory Milestones

As digital assets continue to reshape the financial landscape, regulatory clarity around stablecoins is increasingly vital. The GENIUS Act, signed into law by President Trump in July, establishes the first-ever federal...more

CFTC Launches Crypto Sprint to Implement Digital Asset Market Recommendations

On August 1, the Commodity Futures Trading Commission (CFTC) announced an initiative aimed at advancing the U.S.’s position in the global cryptocurrency landscape. Acting Chairman Caroline D. Pham revealed the commencement of...more

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – August 2025

To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....more

FINRA Continues to Scrutinize Customer Facing Communications on Crypto Offerings

On July 16, TradeStation Securities, Inc., a member firm of the Financial Industry Regulatory Authority (FINRA), submitted a Letter of Acceptance, Waiver, and Consent (AWC) to FINRA’s Department of Enforcement. This AWC...more

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – July 2025 # 4

To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....more

Federal Agencies Release Guidance on Crypto-Asset Safekeeping for Banks

On July 14, the Office of the Comptroller of the Currency (OCC), the Board of Governors of the Federal Reserve System (the Board), and the Federal Deposit Insurance Corporation (FDIC) jointly issued a statement addressing the...more

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – July 2025 # 3

To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....more

First Enforcement Action Taken by California’s Department of Financial Protection and Innovation Under DFAL

Recently, the Department of Financial Protection and Innovation (DFPI) in California issued a consent order against Coinme Inc., a company operating digital financial asset kiosks, commonly known as Bitcoin ATMs, across the...more

CSBS Issues Guidance on Virtual Currency and Tangible Net Worth

On June 26, the Conference of State Bank Supervisors (CSBS) released new guidance regarding the treatment of virtual currency in the calculation of a licensee’s tangible net worth under the Money Transmission Modernization...more

Troutman Pepper Locke Weekly Consumer Financial Services Newsletter – July 2025

To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week....more

Senate Banking Committee Unveils Principles for Digital Asset Market Structure Legislation

On June 24, Senate Banking Chairman Tim Scott (R-SC), Subcommittee on Digital Assets Chair Cynthia Lummis (R-WY), Senator Thom Tillis (R-NC), and Senator Bill Hagerty (R-TN) released a set of guiding principles for the...more

The GENIUS Act: What Is It and What’s Next?

On June 17, the U.S. Senate voted 68-30 to pass S.1582, the Guiding and Establishing National Innovation for U.S. Stablecoins Act, known as the GENIUS Act (the Act). This represents a landmark effort by the U.S. Congress to...more

Digital Asset CLARITY Act Heads to House Floor

On Tuesday, June 10, the House Committees on Agriculture and Financial Services both favorably reported to the House H.R. 3633, the Digital Asset Market Clarity (CLARITY) Act (as amended). Both committees gave overwhelmingly...more

Digital Asset Regulation and The CLARITY Act of 2025

After years of uncertainty and regulation by enforcement, the U.S. may finally be moving toward a more comprehensive framework for the regulation of digital assets. On June 4, 2025, the House Committee on Financial Services...more

2025 Digital Asset Developments - Navigating Change: First 100 Days Under the Trump Administration

We are pleased to share with you our latest publication, “Navigating Change: First 100 Days under the Trump Administration,” authored by our Digital Assets + Blockchain team. This retrospective examines the pivotal...more

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